Passenger traffic in Venezuela falls 8.5% while rest of region grows

Passenger traffic in Venezuela falls 8.5% while rest of region grows

MIAMI – The International Air Transport Association (IATA) reported that passenger traffic in Venezuela fell 8.5% in 2014 compared to a year earlier, in sharp contrast to other key economies in the region which reported growth. This decline outpaced the 3.0% GDP contraction in Venezuela during the same period, reflecting the growing impact of draconian government policies on airlines, including restrictions on the repatriation of currency. IATA urged the Venezuelan government to reform the country’s air transport policies to avert a further deterioration of the country’s already limited air connectivity.

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